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Roger S. Cohen, Jr 
4720 Montgomery Lane 
Bethesda, Maryland 20014 


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INVOICE NO. 21 


CUSTOMER’S ORDER 


date 12/15/71 


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D c/o S.D.C. Development Corp. 

t 567 West 113th Street 

° New York, N.Y. 10025 


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Roger S. Cohen, Jr. 

CERTIFIED PUBLIC ACCOUNTANT 
4720 MONTGOMERY LANE 
BETHESDA, MARYLAND 20014 
PHONE 6 57-2240 

January 9, 1972 


Dear Mr. Raymond, 

Your very interesting letter of December 15th was received on December 
29th. Now both of us have had difficulties with out "efficient" Postal Service. 

Your letter is an amazing document and sheds considerable light on you 
and your thinking. Perhaps I should not bother to write you, but I feel that 
since you are a half cent collector, you should have some knowledge as to why 
I wrote my book. I am somewhat hesitant to do this, as I am not sure you will 
understand this letter, particularly since I have had no response to my letter 
concerning what I consider to be the over-emphasis on condition when it comes 
to collecting artifacts. I also noted, in that letter, that you and I seem to 
be poles apart when it comes to collecting. 

I have written you of my interest in half cents, and I believe that I have 
mentioned that I have known Walter Breen for many years. I first met him irj, 

July 1952 in the coin shop of Ben Douglas here in Washington. He was accom*panied 
by Tom Warfield of Baltimore. Douglas had offered me a 1797 lettered edge in 

fine condition. The price was $85.00. I think you can see from this that I was 

a half cent collector at that time and was collecting by variety. To be precise, 

I have been collecting by variety since 1947. Breen at that time yias attending 
Johns Hopkins University. He told me that the 1797 was a good buy and was genuine. 
I met him later that month at a meeting of the Maryland Numismatic Society in 
Baltimore. At the meeting he gave me his list of half cent varieties for me to 
copy. I still have my copy. It is an interesting item. Walter made quite a few 
errors, but at the time this was his best effort and it was a commendable one. 
About three months later, I found the 1808/7 new reverse. At the next meeting 
of the Maryland Numismatic Society I asked him> how many reverses were known of 

the 1808/7. He stated that there was only one. I told him that I had two. He 

refused to believe me, as he had to see the coin. I didn't have it with me, so 
he said he would call me when he got to Washington again. In January of 1953 
he called me, and I met him at Andrews Field, Maryland where he was spending the 
weekend with Dick (D. Wayne) Johnson. Johnson was in the Air Force at the time. 

We went over my entire* half cent collection of approximately fifty varieties. 

He was very disdainful of my collection, mainly due to its condition, until he 
picked up the 1808/7. There was an abrupt shout and the statement "What have 
you got here?". I don't think I have ever seen anyone so excited as he over that 
coin. He suggested that I write an article about it. I declined, as I felt that 
Walter Breen was "Mr. Half Cent" and he should do' the honors. I left the coin 
with him so.he could get it photographed and write it up. This was done in the 
December 1953 Numismatic Scrapbook. I have previously sent you a copy of this. 


- 2 - 


Shortly after this I decided to buy a home, so my coin collection had 
to go. I consigned it to New Netherlands and it appeared in their forty- 
second sale in October of 1953. Without going into detail, I will state that 
I will never again consign any coins to them for auction. The attitude of 
John Ford and Walter was overbearing and belittling. In addition, all of my 
coins except one were down-graded one full grade. While this was great for the 
buyer, I as the seller did not realize anywhere near what I should have. The 
only coin that was not down-graded was my S-15 large cent. This was bought 
for Dorothy Paschal by Walter. It was only the sixth known specimen at that 
time, "An aristocrat of aristocrats" to quote Dr. Sheldon, but Walter Breen 
and John Ford seemed to regard the consignor as sort of a country bumpkin. 

After selling my collection, my activity in coin collecting diminished, 
but I had not sold the 1808/7 new reverse. My reasoning was simply that some 
day I would collect half cents by variety again, and my chances of acquiring 
another would be very slim, particularly since the coin was unique at that 
time. I did however acquire a few half cents. One was a 1795 G-5 on a thick 
planchet such as sometimes seen on the G-6. I wrote Walter who replied that 
he didn't believe me. I showed it to him. He was, at that time, living in 
Washington in a rooming house on 16th Street, Northwest, between 0 and P 
Streets. I believe Wayte Raymond was paying his expenses so that Walter could 
research the Archives records. He had some doubts as to my coin, but didn't 
commit himself. Interestingly enough, when Bowers and Ruddy put out Walter's 
booklet, the coin was mentioned as a single known specimen. 

I have taken the trouble to set out this ancient history for you so that 
you will realize that I too have very good recall, which, as you know, is one 
of Walter's strong points. You might even check out what I have written. 

I would also like to point out that Walter knew of me. The fact that you 
were not privy to knowledge of me certainly was not my fault. I think you 
will also now recognize that my experience in half cents is long-standing. 

In the next few years I went on to collect other artifacts and left half 
cents to Walter , but I kept an eye on what wa-s going on as I was awaiting his 
book. 


The Hillyer Ryder sale in 1955 was interesting. Walter mentioned the new 
reverse of the 1808/7 but of course did not identify the discoverer or owner. 
He also started to use "Breen numbers" for the half cents. He additionally 
did this for a large sale that Stacks had about this time (Anderson Dupont) . 

I felt then and feel now that he was being very presumptuous in using numbers 
from a book that wasn't even published. 

In 1963 I picked up a copy of the Bowers and Ruddy guide. I recognized 
Walter's writing at once. As I have mentioned before, I feel that Walter's 
writing style has a great deal to be desired. I consider it to be cryptic 
and extremely opinionated. My writing, as you will see, is full of opinions 
but is not opinionated. In addition to this, I have noticed that Walter's 
writing style has become excathedera in nature. 


- 3 - 


By 1966 my interests changed back to half cents. The field of course.had 
changed somewhat but Walter Breen was still "Mr. Half Cent". I also noted that 
after fourteen years the book still wasn't published. This puzzled me as I had 
always looked to him to turn it out. I now know what happened to a limited 
degree. Only Walter knows the full story and I don't think any other person 
knows exactly why the book was never published. I think basically it amounts 
to poor business judgment on Walter's part and the fact that he reaps Consider¬ 
able financial benefit from his knowledge. 

My position on this matter was basically that I wanted a good book on 
half cents and as late as 1968 I felt strongly that only Walter could turn 
one out despite his writing style. During the period of 1966-1969 I noted however 
that when I talked to persons who were interested in half cents, they were con¬ 
fused, and when I started to explain things, they listened. These persons sug¬ 
gested to me that I write the book. I felt reluctant to undertake this at 
first. After thinking about this for some time I began to realize that if 
someone didn't do something, nothing would ever be done. In a previous letter 
to you I outlined the steps that I took, including attempts to establish a 
working relationship with Walter. 

In your letter you state: 

"You must have received a lot of help from Munde and Munson to have 
called your numbering system CMM. But where did they learn? 

Munson got his knowledge from Breen directly, or from New Nether¬ 
lands' auction catalogs written by Breen; Munde got most of his 
coins and knowledge from Hanson who learned from Breen's manu¬ 
script. Even the article on 1804 half cents which appeared in 
Penny Wise a couple of years ago was plagiarized by H. Hazelcorn 
from Breen's notes. You can see that all of this springs from 
the same source." 

I would like to inform you of the facts and correct what appears to me 
to be glaring errors in your thinking. Ray Munde is an extremely perceptive 
person. He obviously must be to be the competent attorney that he is. In 
numismatics he applies the same professional standards. He has a very extensive 
library which he reads and absorbs. He is an extremely condition-conscious 
collector without being a snob. His "feel" for half cents far exceeds anything 
I have seen in various articles and auction catalogues by Walter. 

Paul Munson is an extremely well-known numismatist, not only for half 
cents but for just about any U. S. series from 1793 to 1857. His knowledge 
is far greater than that of a person who will just paraphrase what he has 
heard. He is a person who thinks for himself and does not blindly follow 
the great leader. The statements which you have made in your letter to me 
indicate an abysmal ignorance of these persons or an unwillingness on your 
part to admit that any person could equal or exceed your mentor. 

The authorship of the book is completely mine. Munde and Munson served 
as my critics and they gave generously of their time to answer questions and 
discuss any hypothesis that I might advance. Both of them willingly supplied 
coins for photography. Other collectors also supplied assistance and/or 
offered support and I have mentioned them on the last page of the book. You 
and Walter were the only persons who exhibited a completely negative attitude 
toward my book. 


- 4 - 


The use of CMM as the designation of my numbers was done for two reasons: 

1. The capital letters C and G are often mistaken in handwriting. 2. Since 
both Munde and Munson had been so helpful I felt that further recognition of 
their efforts was a proper thing to do. It also clearly sets forth my 
numbering system. 

Now the book is done and released and it's all over except for possible 
revisions which will probably be slight. Walter has now seen the book and I 
thj.nk he was amazed. I enjoyed the Early American Coppers meeting on December 
30th. I particularly enjoyed one point when Walter said: "I have this informa¬ 
tion. Why didn't you ask me?" I replied, "If you will remember I tried fo." 

He made no reply to this but the three other EAC members who were gathered 
around got the point as all of them were aware of my efforts to establish a 
working relationship with Walter. 

Now you have the book so read it carefully. Do you now think it's a 
worthless piece of trash as you described Overton's first book? I can only 
let the book speak for itself. I am enclosing a review of the book. William 
R. T. Smith of Chicago is another half cent collector. You've probably never 
heard of him. I think you will find that there are many more half cent collec¬ 
tors than you ever imagined. I know I have arrived at this conclusion. At 
the present moment I am mailing out my orders. With the limited amount of 
publicity I have had, the mailing is over 125 copies and none are to libraries 
and damn few to dealers. 

I close this long letter now and I hope that in the future you will speak 
of me as the "Moses of Half Cents" rather than the "Usurper." 

Very truly yours. 



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Roger S. Cohen, Jr. 

CERTIFIED PUBLIC ACCOUNTANT 
4720 MONTGOMERY LANE - 
BETHESDA. MARYLAND 20014 
PHONE 657-2240 

February 6, 1972 


Mr. W. K. Raymond 

567 W. 113th Street 

New York, New York 10025 

Dear Mr. Raymond: 

Many thanks for your letter of January 31 with your comments 
on my book and for the coins which you enclosed. At the present 
time I am extremely busy in my office and will be until April 15. 
Therefore, I will not comment on your comments concerning my book, 
which, on the whole, I like and appreciate. 

I would like to have more comment from you about my book and 
I wish that you would consider very carefully my -emission Sequence. 

I am sure you realize that what I have presented in the book is done 
in a very subtle manner. If you will notice, I don’t explain how I 
arrived at my conclusion. I also very carefully explain that this 
is a GUESS ■ The use of two coin presses was only one hypothesis 
which I used in determining the Emission Sequence. Another hypothesis 
which I did not mention was that I believe that once a reverse die was 
put in a coining press it stayed in the press until the die either broke 
and became unusable or the coinage of the denomination ceased from the 
press. This is the only question I put to you on your diagram of the 
early 1804*s which you sent me in your letter. 

Again, let me emphasize that I would like to have you study 
what I have set forth. Please write your comments down and let's get 
together sometime after April 15 and go over the book and discuss the 
various points which you have made. 

In regard to your shipment of January 31, will you please send 
me individual prices for these coins? Also, have you considered my 
offer of $160.00 for the 1806 G-2 (ex Milton Cohen)? 


Sincerely yours , 


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4720 Montgomery Lane 
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INVOICE NO. 34 
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CUSTOMER’S ORDER 

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Darwin B. Palmer, Jr. " \o0 

217 W. Broadway, G-34 v 

Columbia, Missouri 652C1 


DATE 12/15/71 
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